07:02 AM EDT, 08/28/2024 (MT Newswires) -- The departure of Intel's ( INTC ) former board member Lip-Bu Tan was due to differences with other executives regarding the company's struggles, Reuters reported Tuesday, citing people familiar with the matter.

Tan saw Intel's ( INTC ) workforce as bloated and its culture risk-averse, the report said, adding that the former director grew frustrated over the company's approach to contract manufacturing.

In a regulatory filing last week, Tan cited personal reasons "based on a need to reprioritize various commitments" and said he remained supportive of the company.

Intel ( INTC ) and Tan's venture capital firm Walden Catalyst did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 20.09, Change: +0.02, Percent Change: +0.10